COMPETITION AND INNOVATION: THE INVERTED-U RELATIONSHIP REVISITED
COMPETITION AND INNOVATION: THE INVERTED-U RELATIONSHIP REVISITED
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DOI：
10.1162/rest_a_00364
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发表时间：
2013-12-01
影响因子：
8
通讯作者：
Hashmi, Aamir Rafique
中科院分区：
文献类型：
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作者：
Hashmi, Aamir Rafique
我使用美国上市制造企业的数据重新检验了竞争和创新之间的倒U型关系（Aghion et al.（2005）建模和检验）。我使用行业汇率的贸易加权平均值作为工具来控制竞争的可能性。我发现竞争（以加价的倒数衡量）和创新（以引用加权专利衡量）之间存在轻微的负相关关系。这种负相关关系对许多替代假设和规范都是稳健的。为了使美国数据中的轻度负相关与Aghion等人（2005）在英国发现的倒U型关系相一致，数据，我修改了他们的理论模型，并表明修改后的模型可以解释负和倒U型关系。关键的理论假设是，英国制造业在技术上比美国的同行更不分上下。我在数据中找到了对这一假设的支持。两国之间不同的实证结果也可能是由于数据和样本的差异。
I reexamine the inverted-U relationship between competition and innovation (modeled and tested by Aghion et al. (2005)) by using data from publicly traded manufacturing firms in the United States. I control for the possible endogeneity of competition by using a trade-weighted average of industry exchange rates as an instrument. I find a mildly negative relationship between competition (as measured by the inverse of markups) and innovation (as measured by citation-weighted patents). The negative relationship is robust to many alternative assumptions and specifications. To reconcile the mildly negative relationship in the U.S. data with the inverted-U relationship that Aghion et al. (2005) find in the U.K. data, I modify their theoretical model and show that the modified model can explain both negative and inverted-U relationships. The key theoretical assumption is that the U.K. manufacturing industries are technologically more neck-and-neck than their counterparts in the United States. I find support for this assumption in the data. The different empirical results between the two countries may also arise because of differences in data and samples.